Turkey: Business confidence falls for sixth straight month
October 23, 2012
The Real Sector Confidence Index published by the Central Bank declined for a sixth consecutive month, falling from 103.1 points in September to 102.4 points in October, its lowest level in nine months. Despite the deterioration, the index remains above the 100-point threshold that separates optimistic from pessimistic territory for a 10th consecutive month. At the current level, business sentiment is now 0.5 points above the level observed in the same month last year. The deterioration in business confidence was mainly driven by a decline in the volume of output expected for the next three months as well as a drop in exports orders for the next three months.